September 13, 2017

Highlights On Startup India Initiative

Startup India

With regard to advancing the Startup India initiative to the next level, the Department of Industrial Policy and Promotion (DIPP), Government of India, now focuses on incubation facilities in India, role of State Government in setting up and operationalizing Fund of Funds (FOF - an investment strategy of holding a portfolio of other investment funds rather than investing directly in stocks, bonds, or other securities) through Alternative Investment Funds (AIFs) and Venture Capital Funds (VCFs), and making regulatory compliance easier for Startups.

Notably, Minister of State, Commerce and Industry C.R. Choudhary emphasized on the larger role that states need to play in facilitating and encouraging Startups which would determine the ultimate success of Startup initiative. The Minister then said that the benefits of Startup India program should percolate down to entrepreneurs in tier-2/tier-3 cities.

Moreover, DIPP’s Secretary Ramesh Abhishek focused on the need to take positive steps to support the budding entrepreneurs of the country and highlighted the game-changing initiatives such as Startup India Hub and Learning & Development program launched by DIPP for the benefit of budding entrepreneurs.

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